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Refi Arranged for Pier 1 Distribution Facility

ONTARIO, CA—HFF has secured $54 million financing for Pier 1's main West Coast distribution center which will be expanded.

By David Phillips | Updated on October 15, 2014

ONTARIO, CA—HFF has secured a $54 million refinancing for a distribution center and warehouse facility here that is the main distribution center for Pier 1 Imports, Inc.’s West Coast operations. 

HFF worked exclusively on behalf of the borrower, institutional investors advised by J.P. Morgan Asset Management, to secure the fixed-rate loan through Cornerstone Real Estate Advisers.  Funds will be used to refinance an existing loan and construct a 243,665-square-foot expansion for Pier 1, bringing the total square feet of the center to 991,110 when completed in 2015.

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